Added to YB: 2024-06-26
Pitch date: 2024-06-17
DVN [bullish]
Devon Energy Corporation
-12.24%
current return
Author Info
No bio for this author
Company Info
Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States.
Market Cap
$30.0B
Pitch Price
$45.84
Price Target
71.00 (+76%)
Dividend
4.38%
Sector
Oil, Gas and Consumable Fuels
Category
value
Devon Energy Corporation: Recent weakness a buying opportunity
DVN: Buy. Q1 EPS $1.16, beat. Raised 2024 production 2% to 655-675k bpd. $71 PT, 60%+ upside. Low-cost assets, strong balance sheet, shareholder-friendly. Trading at 8.6x 2024E EPS, 8.0x 2025E. $0.35 dividend ($0.22 fixed, $0.13 variable). Risks: commodity price volatility. Compelling valuation metrics, premier acreage, strong growth profile.
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